updated 11:16 am EST, Wed February 19, 2014

Android Fob slated to launch in April

After a successful Kickstarter campaign, Loop has formally launched the Fob, a mobile payment accessory for iPhones. The device plugs into an iPhone's headphone jack, and lets people make purchases on most point-of-sale systems that support credit cards. That differs from systems like Isis or Google Wallet, which require specific support by retailers.

The Fob costs $39, and also requires that people use the LoopWallet app, which stores data on credit, gift, and loyalty cards. The software runs on devices with iOS 7 or later. Loop is still developing an Android version of the Fob, which is due to launch sometime in April.